The rhetoric about private Social Security accounts includes the passing of the funds to an estate upon the death of the owner of the account. President Bush emphasized this "ownership" availability in his April 28 news conference.
He spoke accurately. However, to enable such a transfer, the death of the owner must occur before the date of a conversion to a life annuity, because upon the conversion, the association of a dollar amount in the account with an owner's name ceases to exist.
Annuities are a Risky U.S. Pension Sub
Source: Insurance News Net
Annuities are a Risky U.S. Pension Sub
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